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TEACHER’S fal Rhins 
Method and Result 
Book 


USED WITH 


Progressive Business Accounting 


Prepared by 


L. EK. GOODYEAR 


GOODYEAR-MARSHALL PUBLISHING CO. 
CEDAR RAPIDS, IOWA 


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ee PROGRESSIVE BUSINESS ACCOUNTING Bo Pe ana 152% Bs 


School Room Suggestions 


The arrangement of this course is the outcome of my efforts to conduct 
students through a standard range of accounting and business practice on 
the lines of least resistance. Certain methods have been used that have 
enabled the students with me to take great enjoyment in the study of book- 
keeping, while at the same time a careful employer found it good business 
to pay me the highest salary, so far as I know, received by any commercial 
teacher in my native state. A number of professional friends have requested 
me to outline my methods in form to be read. There is little to tell. Some 
who read this, may be helped to place the emphasis in teaching where it will 
do the most good. For such it is written. 


Many teachers of bookkeeping are now working at a disadvantage be- 
cause they do certain kinds of drudgery that not only is wearisome to them, 
but reflects adversely on the tone of the school room. This atmosphere passes 
out of the schoolroom into the college office, enveloping prospective students 
who eall in its chill, warning such to hurry to the nearest competitor. It 
follows the students from the schoolroom to their homes, impressing others 
unfavorably. It is to a school what loss of credit is to a merchant—disaster. 


On the other hand, a successful, satisfied teacher, with a successful, satis- 
fied student body, perpetuates itself by attraction. It makes the teacher 
partner with the proprietor, for a pulling power is exerted by him through 
the student body that rivals other advertising agencies. In bookkeeping, as 
in all other instruction, the teacher should have the drawing rather than the 
driving way of doing things. 


ATMOSPHERE. See that the room atmosphere is that of repose and 
satisfaction. Dissatisfaction may usually be traced to students of less than 
average ability. The low-grade student is usually dull because he is unhappy, 
not unhappy because he is dull. In other words, being out of sympathy with 
his surroundings, his mind refuses to receive or to retain impressions. Five 
minutes spent in stimulating his general interest in bookkeeping will produce 
more lasting results than fifty minutes spent in checking the errors of his 
half-hearted attempts at bookkeeping entries. If you interest the half dozen 
dullest ones in a room, your very effort with them will have interested the 
entire room. 


ATTENTION. It should be an unwritten law that inattention is abso- 
lutely inexcusable. This matter in a bookkeeping class, I believe to be largely 
caused by mental dullness resulting from inaction. Very many beginning 
bookkeeping students may be regarded as manifesting about ninety per cent 
physical to ten per cent mental activity, and the physical part is all evident 
while the mental part often escapes the first inspection. In this condition 
the mental machine is more easily started through physical action. Students 
in bookkeeping should in the early part of their course spend a share of their 
time in actually rising from their seats, passing to offices and carrying out 
transactions. Nothing will quiet the legs and arms like an orderly walk 
across the room. 


PERFECT WORK. Whatever work is submitted should be the student’s 
best work. If anything inferior is offered, it should receive no consideration. 


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Ba os meen METHOD AND RESULT BOOK 


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The teacher ‘is undermining his own influence if he examines with care any- 
thing that a student has prepared without care. ‘‘Perfeet work’’ should be 
the motto. Whenever a perfect piece of work is submitted, the student 
should have eredit for that piece of work entered in the class register. His 
work should be preserved and retained for him or others to examine later. 
It is just as easy to preserve students’ work on a shelf, in a drawer, or some- 
where else, if you have no filing system, as it is to throw it into a waste 
basket. Do not return it until his course is completed. 


INDIVIDUAL INSTRUCTION. This should be largely a matter of per- 
sonal encouragement, and of assisting the student to find things that he has 
overlooked in his textbook. Instead of answering questions, refer him to 
the paragraph in his book where he can actually read the answer. Above 
all things, do not carry a key book in pocket to check clerical errors—time 
is too valuable. The student should know that he is right or wrong from an 
examination of the results of his own work. Of course, a key book has its 
place. It should be left in its place. . 


CLASS DRILLS. Do not neglect class drills in bookkeeping. Require 
students who have perplexing entries or questions to solve them without help, 
if possible. If impossible, tell them that such entries will be discussed in a 
drill class held at a certain time. The chances are that the average student 
will by some means reach a solution before the drill class. He will feel 
grateful to you for not being too easy. Remember that the student feels 
greater satisfaction in mastering things than in being too closely led. 

It is easy to neglect the drill classes. Students under perfect control, 
industrious and satisfied, are too often allowed to drift. This is a mistake. 
All students get impressions satisfactory to themselves, but one-sided when 
viewed by others. The drill class, with discussion of the work gone over, 
corrects this tendency and gives to the student the teacher’s viewpoint. Use 
care to avoid any exposure of a student’s mental shortcomings in such classes. 


CLASS REGISTER. In this course, the student submits forty produe- 
tions, each indicating a step in his progress. Each of these productions, if 
accepted, should be credited in the register on the date received. The exer- 
cises, I to XXV, are entered by placing the number in the column thus: 1, 2, 
etc. The reports in sets A, B, and C are credited by entering the transaction 
number as A 10, A 20, ete. Relative progress is thus easy of record. On each. 
Saturday, or every alternate Saturday, glance down the register, and place 
all working on exercises I to V in one drill class, VI to X and Set A in a 
second, XI to XV and Set B in a third, and the remainder in a fourth elass. 
If all work submitted by students is headed by their number and name, as 
it should be, these numbers placed on the blackboard will notify all students 
of the class in which they are required to report. One to three half-hour drills 
per week in each class should cover the ground. Do not omit them. 


CORRECTING PAPERS. Exercises handed in by students should be 
stamped ‘‘correct’’ credited and filed, or ‘‘errors’’ and returned. An incorrect 
paper should be entirely rewritten. The key gives correct forms for all work. 
The same is true of the business«practice sets. An entirely new blank should 
be required to replace an unacceptable one. Any papers or books in the 
course can be replaced for a nickel, retail price. Students should use plenty 
of paper until work is up to grade. Work for criticism dropped in the basket 
one day, should be returned the following day, if rejected. 


PROGRESSIVE BUSINESS ACCOUNTING Ae a : ee 


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THOROUGHNESS. The watchword throughout the puso Wotidide 


quality rather than quantity. Insist on all work being well done from the 
start. Exercise I was prepared over forty times by one student before either 
he or the teacher was satisfied with it. Others have prepard it in fifteen min- 
utes. Every paragraph of the text book should be read and learned. It has 
been boiled and reboiled to its present small dimensions. Nor should any 
student be allowed to pass over or skip any part, on the ground that it is too 
simple for him, or that he is conversant with that part. A person with the 
necessary skill can finish a basketful of these exercises in a day’s work. No 
serious delay would result from a skilled bookkeeper working them. 


CHANGES OF RESULTS. No changes of results are introduced through 
‘varying price lists. I cannot see that changes in results ever inforced a single 
principle of bookkeeping, unless it be the general principle of not stealing 
some other person’s work, because the other one hasn’t it to steal. Changes 
in results may add a little to a dishonest student’s drill in arithmetic, but it 
will make such a one all the more greedy to steal the bookkeeping part which 
is the very subject in hand, and which, from the nature of the work, does 
not vary. There is a better way to straighten this class of students than by 
checking over their arithmetic work in a bookkeeping class. Give them a 
written test on work covered. If they fail, let them return and work over 
some of the exercises they appear to have forgotten. Encourage a student to 
think and he will not copy. 


HIGHER WORK. This course prepares a student admirably for a twelve 
weeks’ course in Goodyear’s Higher Accounting, a work theoretical in plan, 
with special vouchers only; for Marshall’s Corporation and Voucher Account- 
ing, six weeks; for Goodyear’s Bank Accounting, six weeks; for Goodyear’s 
Community Business Practice, or Goodyear’s Inter-communication Business 
Practice, or for advanced office training. I would gladly correspond with 
teachers, relative to these or other courses in the line of publie accounting 
or general auditing. 


DEBIT AND CREDIT. Strange as it may seem, hundreds, I suppose, 
thousands of bookkeeping teachers are at variance over that most fundamental 
of things in bookkeeping—the meaning of debit and credit. No doubt, many 
who read this have stored in their memories dozens of rules governing the 
when and why these debits and credits should be made. Confusion is added 
to the discussion by introducing so-called Italian or Hebrew history as to the 
origin and original use of the terms debit and credit, debtor and creditor. 
It becomes more involved by contributions in the line of rhetoric, stating 
what expressions may or may not be used. Recently I read a learned denun- 
ciation pronounced against the thought of an idea receiving an inanimate 
thing, and suppose the writer was correct in many ways. 

Now, bookkeeping applies to this world, not to the next. It has a prac- 
tical mission—to present to mind an outline of one’s business in terms of 
dollars and cents. Words to express its distinctions are taken from the gen- 
eral language and modified as to meaning in their technical surroundings. 
So when we give one general rule to govern all entries, debit the receiving 
account; credit the giving account, we do not mean that the “‘receiving 
account’’ actually braces itself like a baseball catcher and receives the value 
on a padded hand with a loud bing, followed by applause from the bleachers. 
We mean that the business man divides his business into several parts for 
separate consideration, that each one of these parts is represented as far as 


Bre sn eases METHOD AND RESULT BOOK 


‘practicable ‘by a ledger account, that his productive activities consist in chang- 
ing his property of one kind into property of another kind; i. e., by taking 
out of one part of the business and putting into another part. For conveni- 
ence, we say that the part he takes from gives a value, and the part he puts 
into receives a value. Hence, the accounts representing these parts would be 
receiving and giving accounts. This viewpoint enforced, other rules for debit 
and eredit are unnecessary. Clear definitions of what the accounts represent 
is all that is required. * 

This should be followed by a clear conception of why accounts give and 
receive values. There are two kinds of accounts that give and receive values, 
for two different reasons. First, commercial accounts that cost and produee, 
and are expected to show gains or losses; second, financial accounts, showing 
fixed value or obligation to pay, that are expected simply to balance out by 
an equality of debits and credits. 

The latter class is made largely of personal accounts which are so 
simple that the mistake is frequently made of introducing them first. The 
introduction of these accounts at the outset 1s almost sure to give to the 
learner an impression that bookkeeping is a sort of argument between persons 
rather than a scientific comparison of values. The personal element of accounts 
should stop at the collection desk. The emphasis being placed on the person- 
ality of others, naturally passes to his own ego—something that should be 
separated from every study of the effects of industry or investment. The pie- 
ture of a business organization in active motion, constantly changing its values 
from part to part, is much more true and attractive than the picture of a 
person collecting and paying debts. 

TESTS. It is a good plan to give a monthly test, consisting of a set to 
be written from original memoranda. Two or three hours can be very well 
used. 


EXERCISE I 


Before beginning the work, have the student see that all his supplies are 
received, so that no report of shortage can be made later. Require him to 
read the introduction and submit Exercise I. 

CLASS TALK. ‘‘At the beginning, I wish to know how closely you ean 
read and follow instructions, and how well you can rule and write. Prepare 
Ex. I, following all instructions given. Do not speak to anyone or get any 
advice or help before completing the work. As soon as it is completed, place 
it in the basket and return to your seat, study the information paragraphs 
of Ex. II. I shall retain this as a specimen of your work. If it is imperfect 
in any essential, you will be instructed to repeat the exercise until it is correct. 
Some will find it necessary to repeat this exercise many times. Try to produce 
perfect work the first time. Do not forget that the exercise number, your 
number, name, and the date are to be written at the extreme top of all work 
handed in.”’ 


EXERCISE II 


Take a box or drawer which you will eall the cash division of your busi- 
ness. Notice that the cash is lacking, although the place for it has been pre- 
pared. Have the student write ‘‘Cash’’ at top of a piece of ledger paper to 
represent the cash account. Place some money in the cash box. Show that 
cash in the receiving account. Have the entry for it made. Pay some money 
out of the cash box. Show that cash is the giving account. Continue until 


PROGRESSIVE BUSINESS ACCOUNTING BPRS ay 


the association of receiving and giving with debit and credit» is clear. Be - 
careful that the cash box is thought of as giving out value, not the person who 
handles the money. 

CLASS TALK. ‘‘In this exercise you have (Infor. 12) the only rule for 
debit and credit given in the text. Commit it to memory absolutely. It should 
be committed so well that you will have no hesitation in repeating it. Do not 
word it in some other way that may seem to you just as good. It has taken 
accountants many years to make this rule, and it cannot be improved on in 
a few hours.”’ 


EXERCISE III 


Divide a table cover into four rectangles by crayon lines. Write in the 
center of the figures, Proprietor, Cash, Flour, Hay. These are the four parts 
of the business you are about to inaugurate. In the proprietor’s division, 
place a pile of college currency that will be called $500—No transactions have 
been carried out. Business is ready to begin. 

CLASS TALK. ‘‘You will observe that a certain person is about to 
begin business, in which he will buy and sell for cash. What does he intend to 
deal in?’’ (Rule a ledger on blackboard and divide it into four accounts as 
in text book, page 9.) ‘‘Before buying, the proprietor must show how much 
money he intends the business to have, by placing it in the cash division.’’ 
(Place all money in the cash part of the business.) ‘‘Repeat the rule for debit 
and eredit.’’ (Debit the cash account, credit the proprietor’s account on the 
blackboard.) ‘‘The money is now invested, that is, appropriated for the use 
of the business.’’ (Now buy 100 sacks Flour—a handful of crayon will do— 
place the ‘‘flour’’ into the Flour part of the business.) ‘‘Is the transaction 
complete? No, because one part of the business must give value.’’ (Hand 
currency to the ‘‘man’’ who delivered the flour.) 

‘‘We will now show on our ledger what account receives value and what 
account gives value.’’ (Continue in this way until a clear idea of double 
entry is fixed.) 

‘‘Now add all debits and credits. The totals are equal.. Why? If they 
had not been equal, what would be the conclusion? Is there as much cash as at 
first? If there is less cash, is the business worth less? Why not?”’ 


EXERCISE IV 


CLASS TALK. ‘‘In this exercise you will have four accounts, but titles 
will differ from those used in III. Learn the meaning of Merchandise and 
Real Estate. Be careful not to compare your work with others, for a failure 
to ‘work out and understand this exercise will cause a failure when you at- 
tempt Ex. VI. Better spend a week on this exercise, than to slight any part 
of it. Do not hurry. Keep working and thinking.’’ 


EXERCISE V 
Use the same general plan as in Ex. I. 


EXERCISE VI 


This is the first exercise requiring more than one sheet. Emphasize that 
the work must be submitted in uniform order, as instructed at close of lesson. 
A blackboard drill showing journal, ledger, and trial balance, is in order. 
Give attention to pencil footings of ledger accounts, 


«oie 3 i METHOD AND RESULT BOOK 
EXERCISE VII 


This is probably the most difficult of the exercises. A blackboard illus- 
tration showing the steps of closing the ledger needs repetition. Take time 
to clear the subject. It is a test in the students’ course. This is a good place 
to turn back the student who has not taken the preceding exercises seriously 
enough. He will reform. 


EXERCISE VIII 


The difference between commercial and financial accounts must be made 
clear. ¢ 
EXERCISE IX 
Show in this exercise that every one who works or spends money should 
keep books. 


EXERCISE X 


The cash book, purchase book, and sales book illustrate the general prin- 
ciple governing the transfer of any class of entries from a journal to a special 
book of original entry. 


SET A 


Student begins business practice in his own name. Hand him’ $5,000 in 
large bills. He transacts with the Bank; with Wholesale Office representing 
Kuhn, Aldrich & Co., Esmond Canning Co., Ajax Biscuit Co., and Sunset Fruit 
Co.; and with the General Agency representing all other firms mentioned, 
unless a Real Estate office is running. 

At close of the set, student will turn over his books and papers to teacher, 
give teacher a check for his bank balance, and receive for entire consideration 
$6,000, which teacher can hold until student needs it at opening of Set B. 


SET B 


Student forms partnership. Agricultural implements at retail. Transacts 
with bank, railroad office, general agency, real estate office, and post office. 
The forms coming to him from post office can be completed and addressed 
to him by a clerk in that office, if desired. Envelopes so directed should have 
transaction numbers in upper left corner, so that they may be held until called 
for. 


SET C 


Student forms corporation. Transacts with Bank, Railroad Office, Real 
Estate, General Agency, and Post Office. Incoming mail can be prepared as 
in Set B. ‘ 


BUSINESS PRACTICE. Sets A, B, and C should, as a matter of economy, 
be carried out by actually dealing with offices. There are several good reasons 
for this, of which two will be mentioned. A student dealing with and getting 
vouchers from another person has his attention directed to his own side of the 
transaction, which is really the only side of the transaction that his books 
represent. Hence, he has a clear, concrete idea of what he is doing. I am 
inclined to think that where he takes vouchers from a packet, tablet budget, 
or booklet; fills them out for someone else, passes them for someone else to 


PROGRESSIVE BUSINESS ACCOUNTING | | 9g 


himself, then receives them for himself, and passes something itr rétura frort 
himself to himself, representing someone else, that his entries derived from 
such actual business transactions are likely to be mixed; so that we are often 
inclined to think that if the boy is ever to make proper journal entries, he 
must have ‘‘more drill in journalizing.’’ Is not greater clearness in state- 
ment and in carrying out transactions the thing needed? 


Another reason for carrying out transactions with offices is that the bills, 
notes, ete., computed by the student, can be checked against results in offices 
as they should be, instead of being checked by the teacher or a checker. 
This endless checking of this class of work involves an expense about as 
needless as the habit of smoking, differing from it in only one visible respeet— 
the smoker is said to enjoy his weed. 


OFFICE PRACTICE. At the outset, I would say that the offices con- 
nected with this course are considered desirable as a convenient place at 
which the floor workers can carry out transactions; also as a place where the 
floor students can at intervals change to surroundings where books of com- 
mercial size are written in, where papers are handled in sufficient numbers 
to require filing on a larger scale than at a desk, where cash in quantity can 
be counted and proved, where an adding machine ean be used when there is 
one at hand; in short, where common clerical duties can be taught. It does 
not seem to me to be a place where advanced accounting can be successfuly 
taught, although it may well be practiced here. 


All papers passing from the offices to floor students, are placed in the 
offices, filled, with the exception that the office student is to complete the 
form by insertion of name, date, ete., record in book of original entry, and 
pass out. It is not intended that the office students keep general books, make 
trial balances, and balance sheets, unless advanced students are placed there 
for such advanced work, although I would make one exception in favor of 
conducting a complete bank. However small the number of students, the 
office plan can be followed. If there were only five students in business 
practice, one can be placed in office work. 


The following office outline will make a basis to work from. Naturally, 
the amount and kind of office books and supplies will depend on the place 
where used. If ordinary schoolroom desks are used for offices, the books 
should be few and simple. In a fully developed business exchange, many 
labor-saving office devices can be introduced. 


BANK 


In Set A: Takes deposits and pays cheeks of each student in floor work. 
Balances pass book at end of set. Also holds notes against 
floor students for collection. These notes are received from 
the Wholesale Office and General Agency to whom they were 
given by student, 


InSet B: Takes the deposit account of Student & Finney, collects sight 
drafts, sells bank drafts, discounts notes, and collects notes 
for Wholesale Office, General Agency teacher and Student & 
Finney. 


10° 6 METHOD AND RESULT BOOK 


In Set Cy Takes deposit account of Student Mercantile Co., issues cer- 
tificates of deposit, collects for out-of-town firms; otherwise 
as in B. 
BOOKS USED. A full set of banking books is desirable. They should 
be in the hands of from one to ten persons, according to size of school. 


WHOLESALE OFFICE 


(The work of this office may be done through General Agency, if desired. ) 

In Set A: Fills 16 orders for each student (no merchandise cards) ; 
receives cash and notes in payment, leaves notes at bank for 
collection, keeps bank account. 

In Sets B and C: Not used unless it is desired to make this a corre- 
spondence office through which the out-of-town bills to stu- 
dents may be mailed and a collection department maintained. 
If this is desired, a fine set of business letters can be dictated 
in this office. 


BOOKS USED. If used with Set A only, a Journal, Cash Book, Sales 
Book, Ledger group will suffice. If used with B and C, a complete equipment 
ineluding loose leaf customers’ ledger, letter filing system, and duplicate 
billing is good. 


REAL ESTATE, INSURANCE AND NOTARY 


(This work may be done through General Agency, if desired.) : 

In Set A: Rents one property to student, fills out Bill of Sale, keeps 
bank account. 

In Set B: Fills Articles of Co-partnership, deeds, mortgages, insurance 
policies, and releases, acknowledges. legal papers, discounts 
notes, collects rentals. 

In Set C: Same as in B. Adjusts fire loss. 


BOOKS USED. A Journal, Cash, Policy Register, Ledger set will meet 
requirements. A more elaborate outfitting would eall for a ecard follow-up 
and expiration system, and, possibly, a set of abstract books. 


RAILROAD AND EXPRESS OFFICE 


(This work may be done through General Agency, if desired.) 

In Set A: Not used. 

In Set B: Receives four outshipments of carload freight and delivers 
four inshipments, prepaid and eollect. 

In Set C: Delivers in freight and receives thirty pieces of out freight 
and express, prepaid and unpaid. Collects four express C. 
O. D.’s from General Agency, sends telegrams. 


BOOKS USED. A Freight Received, Freight Forwarded, Freight Cash 
Book set is required. 


GENERAL AGENCY 


(Active in Sets A, B, and C.) 


This office represents a large number of firms with whom the students 
have miscellaneous dealings. In each transaction the office acts as the firm 
with whom the student carries out his transaction and makes records accord- 


PROGRESSIVE BUSINESS ACCOUNTING id 


ingly. Unless it represents the Real Estate and Railroad Offices, the transac- 
tions of this office are mercantile in nature. It gives especially good drill in 
making change, recording notes, and filing papers. 


BOOKS USED. A Purchase Register, Sales Register, Note Receivable, 
Note Payable, Journal, Cash Book, Ledger group of books is needed. A good 
deal of attention to filing and cash book proof is involved. 


THE CLERICAL SERVICE FORMULA 
(Used in offices without bookkeepers. ) 


In business practice, Sets A, B, and C, the student transacts at six office 
windows: Bank, Wholesale, Real Estate and Insurance, Freight and Express, 
General Agency, and Postoffice. In a small department, these office windows 
can be combined into three. In a large department the General Agency 
should have more than one window. 


The office clerk’s equipment consists of: 


(1) Bank, an indexed guide to transactions, a basket for tickets and 
vouchers, a vertical file of forms and a draft, a collection, and a discount 
register and a signature book. 


(2) Wholesale, an indexed guide to transactions, a basket for tickets 
and vouchers, a vertical file containing forms, a sales book and a credit 
register. 


(3) General Ageney, an indexed guide to transactions, a basket for 
tickets and vouchers, a vertical file containing forms. 


(4) Real Estate and Freight offices, an indexed guide to transactions, a 
basket for tickets and vouchers, and a vertical file of forms. 


(5) Post office, an indexed guide for delivery of mail, a vertical file con 
taining such letters for students as do not emanate from the room. 


Where it is the policy of the department to keep complete office books, 
the papers in the clerks’ baskets are to be turned over to the bookkeepers. . A 
full list of office books in all sizes is given in the Goodyear-Marshall catalog. 


If each student is required to do thirty hours’ office clerical work during 
his six months’ course, the requirements of the students in business practice 
ean be satisfied. Each Monday assign about six clerks for every forty in 
practice. At any time reinforce them with others if the work is too heavy, or 
retire any who are not busy, giving them credit for the time spent. Give 
students in practice exercises the preference for office positions, for they can 
continue their bookkeeping work when the office work does not demand atten- 
tion. These office students should have time to pass on every paper submitted 
by a student, to compare it with the office guide, and to accept or reject it on 
its merits. 


They should not accept any paper without the transaction number writ- 
ten on it, as the teacher may want to locate some of these papers when they 
are submitted to him at the close of the day. If each student has a number, 
oral criticism can be made without calling a student by name. 


A business exchange period of from twenty to ninety minutes daily will 
be sufficient for transaction work. 


12 METHOD AND RESULT BOOK 


TEACHERS’ DAILY PROGRAM 


1. See that office clerks are in position. See that bank and general 
agency clerks have cash counted and check sheets ready for day’s work. 

If any student begins Sets B or C today, pass the firm name to the clerk 
in postoffice, directing him to follow his Instruetion No. 5. 

2. Criticise and require rewriting of yesterday’s defective papers. As 
no papers are returned to students, reference should be made to the papers 
by numbers. 

3. Deposit in the bank all checks and drafts collected from the office 
baskets of yesterday; leave at the bank for collection all notes from yester- 
day’s baskets; return to the general ageney all bills and certificates of stock 
or installment certificates received yesterday. 

4. Exchange periad opens. 

See that no more than three students are waiting at any office. Some 
teachers require the office clerks to give their customers numbers:so that they 
may be served in turn. 

If any office is overworked, send an additional clerk. 

If any office student is idle, see that he continues his bookkeeping exer- 
cise work while waiting. 

There will be very little detail work to interfere with teaching. 

5. Exchange period closes. 

All offices should be closed on the minute. 

Inspect each office clerk’s desk to see that he has disposed of all papers. 

Receive baskets from each clerk, 

6. Examine exercises and reports (comparing with Key) left in teacher’s 
basket. Sort out the rejected exercises and reports for attention tomorrow. 
Credit the accepted productions on the class register, giving student credit 
on the date received. The credits for the entire six months’ course can be 
conveniently entered as follows: ‘‘1, 2, 3, 4, 5, 6, 7, 8,9, 10, A 10, A 20, A 30, 
A 40, A 50, A 60, A 70, A 80, A 90, A. 100, 11, 12, 18, 14, 15, B 25, B 50, B 75,. 
B- 100, 16, 17, 18;.19, 20, C 50, C-100, 21, 22, 23, 24, 25, 30 hrs. office.”’? The 
number of days intervening between credits indicates rate of progress. Make 
a note of slow students for individual attention tomorrow. 

7. Examine vouchers from the office baskets. Sort them into (1) checks 
and cash items for deposit, (2) notes to leave at bank for collection, (3) bills 
and stock certificates for general agency to be returned, (4) defective papers 
for rewriting, (5) the remainder. 

8. Examine letters from the postoffice. They require no answer, and 
contain no enclosures that need be preserved. 

9. See that office clerks have balanced cash. 

Note.—The plan of bookkeeping and business practice instruction based 
on the clerical service formula has long been in use in some of the larger 
schools, and has been a closely guarded factor in their growth. It is in strict 
accord with the new doctrine of scientific management. This is the first 
attempt to give to schools without an expert systematizer the advantages of 
scientific management as applied to this line of work. To say that the results 
of teaching effort will be doubled in many business departments with the 
addition of clerical service, would be putting the case mildly. 


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PROGRESSIVE BUSINESS ACCOUNTING 13 


Ca £9 Yet Manning ALL 1 /G—~ 


Sea Yl \AN a Ne Ww 1 \% 


ANSWERS TO QUESTIONS (on reverse side of sheet) 


1. The ledger and journal are the common forms of ruling used in book- 
keeping. 

2. The headlines are the ruled lines running from left to right at top 
of the written portion. 

3. The center vertical ruling divides the page into debit and credit sides. 

4. The four columns on each side of the ledger are the Date, Explana- 
tion, Folio, and Money Columns. 

5. The date columns are divided into two parts—the first for the year 
and month, the second for the day of the month. 

6. The money columns are divided into two parts—the first for dollars, 
the second for cents. 


14 METHOD AND RESULT BOOK 


Cath 


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ANSWERS TO QUESTIONS (on reverse side of sheet) 


1. Business is the process of changing one kind of value into another 
kind of value. 
2. Men engage in business for the purpose of profit. 
3. Money is the measure of values. 
4. The profit is shown by comparison of cost with the value received 
in any given instance. , 
5. Persons change property of one kind into property of another kind 
or they exchange property with other persons. 
6. For inspection and comparison a business is divided into several parts. 
7. An account is a complete entry of all transactions pertaining to a 
given part of the business. 
8. The title is the name of the part of the business which the account 
represents. 
9. The ledger is the book of accounts. . 
10. The general rule for debit and credit is: ‘‘Debit the receiving ac- 
count; credit the giving account.”’ 
11. The debit side of the cash account shows the time, source and amount 
of cash receipts. 
12. The credit side of the cash account shows the time and amount of 
cash payments. 
13. The credit subtracted from the debit totals of the cash account show 
the amount that should be on hand. 


PROGRESSIVE BUSINESS ACCOUNTING 15 
2 CA 9 Yotn Warning ALLL A 


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6009.50 : 6209.56 


ANSWERS TO QUESTIONS 


1. The effect of every business transaction is to transfer value from 
one part of the business into another part of the business. 

2. In every transaction, one or more accounts must be debited and one 
or more must be credited. 

3. Debits and credits must be in equal amounts. 

4. The characteristic of double entry bookkeeping is that all debits 
and eredits of any transaction are shown in their respective accounts. 

5. One is led to believe that the posting is correct if it appears that the 
sum of debit footings of all the accounts equals the sum of credit footings 
of all accounts. 


16 METHOD AND RESULT BOOK 


JO000 


ANSWERS TO QUESTIONS 

1. The Merchandise account represents movable goods that are bought 
to be sold for profit. 

2. The Merchandise account should be divided when its parts are of 
sufficient importance to require separate consideration. 

3. The Real Estate account represents title in houses and lands. 

4. The Real Estate account should be divided when it refers to separate 
pieces of property considered separately. 

5. The amount of cash can be found by subtracting the credit footing 
from the debit footing of the cash account. 

6. When pencil footing an account, the pencil footings last appearing 
above are included. ; 


PROGRESSIVE BUSINESS ACCOUNTING 17 


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Ke \%|% z Gtoat-2% 1” l% 7 1% 


ANSWERS TO QUESTIONS 


1. A complete record of the transaction is not found in the ledger 
because there is not space in a ledger account to record all the facts per- 
taining to it. 

2. Entries appear in the ledger in the order of the titles affected. 

3. The Journal is the book of original entry. 

4. The Journal entry contains the date of the transaction, the ledger 
titles affected, a complete memorandum of the transaction, and the amounts. 

5. No erasures should be made in the journal. 

6. Journal entries should be made immediately after the occurrence of 
the transactions recorded. 


18 


METHOD AND RESULT BOOK 


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PROGRESSIVE BUSINESS ACCOUNTING 19 


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20 METHOD AND RESULT BOOK 


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ANSWERS TO QUESTIONS 


1.- Journalizing is the process of selecting the proper debits and credits 
in a given transaction and of entering them in a journal. 

2. Posting is the process of transferring the journal debits and credits 
to the ledger accounts. 

3. The folio column contains the page or folio from or to which the 
item is posted. 

4. The balance of any account is the difference between the debits and 
credits. 

5. The two kinds of ledger balances are debit and credit balances. 

6. A trial balance is a list of all open ledger accounts, together with 
the debit and credit balances arranged in separate columns. The total of 
these columns should be equal. 

7. Trial balances are ordinarily taken monthly. They are taken at other 
periods depending on the nature of the business. 

8. Post marks are entered immediately after posting. 

9. A debit balance of an account shows that the part of the business 
represented by that account has received more value that it has given. 

10. A eredit balance shows that the part of the business has given more 
value than it has received. 


PROGRESSIVE BUSINESS ACCOUNTING 21 


aS 


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7 
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2 


ANSWERS TO QUESTIONS 


1. Furniture and Fixtures is the account with movable property of per- 
manent value bought for the use of the business. 

2. Teams is the account with horses, wagons and the like used for deliv- - 
ery and other work. 

3. Expense is the account with things bought to be consumed in the 
business. 

4. The cash value of an account is the selling worth of property charged 
to that account. 


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5. The gain of an account is found by subtracting its total debits from 
its total credits plus cash value. 

6. The loss of an account is found by subtracting its total eredits plus 
eash value from its total debits. 

7. An inventory is a list showing its cash value of all property belonging 
to an account. 

8. An account showing gain or loss is closed by entering the cash value 
(if there is an inventory), entering the loss or gain in the lesser side, ruling 
the account, posting the loss or gain to Loss & Gain account, and carrying 
the inventory below the ruling. 

9. The Loss & Gain account is used to exhibit in one place the gains and 
losses of all accounts. 

10. After receiving the net gain or loss, the proprietor’s account shows 
the net worth. 

11. Original entries in the ledger are made in red ink to indicate that 
they must be posted to the opposite side of some ledger account. 

12. The double lines indicate that a ledger account is closed. 

13. After accounts are closed, inventories and balances are carried below 
the ruling. 

14. The proprietor’s net worth, account balances, and inventories are car- 
ried down on the date following the closing. 

15. (Six steps found on page 24 of text.) 


PROGRESSIVE BUSINESS ACCOUNTING 23 


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METHOD AND RESULT BOOK 


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PROGRESSIVE BUSINESS ACCOUNTING 25 


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ANSWERS TO QUESTIONS 

1. Property is sold for cash, for other property, or for claims against 
persons. ' 

2. Claims against others are usually in the form of accounts or notes. 

3. The ledger title for notes in our favor is ‘‘Notes Receivable’’ and 
for notes against us, ‘‘Notes Payable.”’ 

4. The ledger title for claims or open account against persons is the 
name of the person owing. 

5. Financial accounts are accounts having a certain fixed value to be 
settled. 

6. Commercial accounts are accounts with things for which money is 
given or received. 

7. When closing a ledger, financial accounts are left unchanged unless 
their values have been impaired. 

8. We debit the name of the person who buys from us on account be- 
cause we look to that person for payments. 

9. We debit Notes Receivable account, as that title represents all notes 
held against others. 

10. Included under the title Notes Payable are our promissory notes and 
acceptances due others. 


PROGRESSIVE BUSINESS ACCOUNTING 27 


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PROGRESSIVE BUSINESS ACCOUNTING 29 


30 METHOD AND RESULT BOOK 


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PROGRESSIVE BUSINESS ACCOUNTING _ 31 


ANSWERS TO QUESTIONS 


1. Labor has a cash value in business. 

2. The value of labor is measured by the amount a person can earn in 
one year. 

3. The use of money is valued at the amount one dollar will earn in one 
year. 

4. The earnings and personal expenses should be journalized monthly. 

5. A business year does not always begin on January 1, but may begin 
on the date most convenient for the work in hand. 

6. The ledger of one’s personal business should be closed once each year. 


METHOD AND RESULT BOOK 


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PROGRESSIVE BUSINESS ACCOUNTING 33 


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34 METHOD AND RESULT BOOK 


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ANSWERS TO QUESTIONS 


The three common kinds of transactions are buying, selling and handling cash. 

There are occasionally other transactions. 

The Journal, Cash Book, Purchase Book, and Sales Book may be used for original entries. 

The purchase book contains entries of merchandise bought. 

The sales book contains entries of merchandise sold. 

The cash book contains entries of payments or receipts of cash. 

The journal contains the entries not made in the special books of original entry. 

By division among four books, original entries are more easily posted, entries are more con- 
made and found. 

The explanatory space of the ledger is used freely in personal accounts. 

The ledger is divided into general, purchase and sales parts. 

When a purchase book is used, merchandise is debited with the total periodically. 

When a sales book is used, merchandise is credited with the total periodically. 

The cash book totals are not posted to the ledger because the cash book is considered one account. 
The difference of cash is entered (red) in credit side, account footed, ruled, balance carried. 
The cash book and ledger must be referred to in taking a trial balance. 


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38 METHOD AND RESULT BOOK 
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42 METHOD AND RESULT BOOK 


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44 METHOD AND RESULT BOOK 


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46 METHOD AND RESULT BOOK 


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PROGRESSIVE BUSINESS ACCOUNTING 47 


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50 METHOD AND RESULT BOOK 


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PROGRESSIVE BUSINESS ACCOUNTING 51 


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PROGRESSIVE BUSINESS ACCOUNTING 53 


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PROGRESSIVE BUSINESS ACCOUNTING 55 


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56 METHOD AND RESULT BOOK 


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Index to Sets 


Trial Balances 


| A B C 
Cash Book - - 74-75 86-87 96-99 
Daily Balances - 72 81 94 
Inventories - - 77 and 111 111 111 
— Journal - - 72 83-84 95 
Ledger General - - 78-79 88-90 101-103 
‘Purchase - | 79 89 106 
~~ Sales - - | 79-80 91 107 
ao toe k. = - 104 
‘ Tnstallment - 105 
Notes Rec. and Pay. - 82 
Purchase Book — - - ah 84 100 
Reports of Progress - 73 82 
Sales Book - - 76 85 100 
Statements - - Text Page 59 92-93 110 
- - 80 92-93 108-109-110 


Recayrs Sa rsibate Seat ie aFenett it eater ts este, Renee tetera, 


RRR 


